Ex-BHS boss to sue Philip Green
He will also contest a proposed ban from becoming a company director following the collapse of BHS in 2016. He bought the company for £1 from Philip Green in 2015 before it fell into administration, leaving a £571 million pension deficit.
Speaking to the Press Association, Chappell said the Insolvency Service blamed him as it did not “have the guts to go after Green”, and complained that his reputation has been “severely tarnished” throughout the process.
Last year in January, the Pension Regulator concluded that Green had sold BHS to avoid liability for its pension scheme, and the billionaire agreed the pay £363 million into the fund a month later.
Chappell said the suit against Green “is the only way that I can prove our position”.
The businessman was hit in February with a £10 million bill from the Pensions Regulator as part of efforts to recover money owed to the collapsed company’s pensions scheme. He has been also found guilty of failing to provide information to investigators.
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